Malaysia’s national reserves dropped by US$900 million between Sep 14 and Sep 28. Malaysia’s gross international reserves dipped to US$103 billion as of Sept. 28, from $103.9 billion as of Sept. 14, the central bank said on Friday. The reserves were sufficient to finance 7.4 months of retained imports, and were 0.9 times the short-term […]
Read MoreKUALA LUMPUR: The ringgit opened slightly higher against the US dollar early Friday due to local factors following reports that the World Bank has predicted Malaysia would sustain growth and achieve high-income status between 2020 and 2024. At 9 am (0100 gmt), the local currency stood at 4.1430/1480 against 4.1450/1490 recorded at Thursday’s closing. A […]
Read MorePETALING JAYA: The World Bank has cut Malaysia’s gross domestic product (GDP) growth forecast for 2018 to 4.9% from 5.4% on the back of slowing export growth and lower public investment. It expects the country’s pace of economic expansion to continue moderating until 2020. Although the move is largely unsurprising, the bank’s downward revision in […]
Read MoreGRAB and deals platform Fave – formerly Groupon Singapore – announced on Thursday that they have formed a strategic partnership to accelerate their growth across the Asean region. As part of the partnership, Fave will bring onboard merchants for GrabFood and GrabPay in Singapore and Malaysia, beginning this week. Later in October, Fave will add the […]
Read MoreKUALA LUMPUR: The World Bank sees Malaysia’s economy growing at a slower pace from this year up to 2020 but it also expects the fiscal deficit to narrow, depending on the economic growth. In its outlook report issued on Thursday, it expected growth to moderate to 4.9% this year and 4.7% next year and at […]
Read MoreKUALA LUMPUR: Palm oil producers are urging the government to reconsider and review the Sales Tax (Rates of Tax) Order 2018 on fresh fruit bunches (FFB) as the industry is already burdened by cesses, levies and taxes, including the corporate tax. The Malaysian Palm Oil Association (MPOA) said on Thursday this was a matter of […]
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